Closely followed crypto analyst Altcoin Psycho said that investors Ethereum (ETH) competitors He warned that he should be careful. Sharing on his Twitter account with more than 428,000 followers, the analyst thinks that Ethereum competitors can “reset” their investors. According to the analyst, investors are mistaken about how powerful the leading smart contract platform can become under the right conditions.
“People seriously underestimate ETH’s ability to go vertical in the right macro conditions.”
According to the analyst, he stated that Ethereum will swallow its tier-1 competitors, which are its rivals. According to the analyst, under favorable macro conditions, existing tier-1 competitors as well as projects that have not yet been released will suffer a great loss.
Altcoin Psycho thinks it should start building hype again as tier-1 competitors lose power, as ETH’s transition to a much less power-hungry verification system is on the horizon.
“I can say that it is almost a year before the power of the projects that are rivals of Ethereum, but which are actually a copy, completely disappear. As they lose power, I think all the energy and hype out there will shift to ETH, which is near consolidation.
Also, I don’t see Solana, Avalanche or Cosmos as projects that will be affected by this for whatever value… I believe the future is very chained…
I think there is a lot of garbage that will be retired this year and most of that money will flow back into ETH.”
Speaking in a recent video update, the analyst thinks that Ethereum’s imminent merger from a proof-of-work consensus mechanism to a proof-of-stake system could not only be a catalyst to help ETH rise, but also lend a helping hand to layer-2 projects.
“What good will this information do if we are optimistic about ETH? If ETH goes well, I think layer-2s above ETH will probably do really well too.”
Ethereum At the time of writing, it is trading at $3,261, down 8.5% from a seven-day high of $3,559.
https://www.youtube.com/watch?v=hsPSC-GgRRs
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